[estoddard@trubiquity.com]

Hey all,

We are on Netsuite One World SWE version. We are just now in the implementation stage. We are very curious about when setting up Financial Reports such as an Income Statement, how much or how far we can drill down in detail. Especially when using Departments…

We are getting mixed opinions on whether to have a parent account and child accounts within the Chart of Accounts. Or to utilize the ability to assign Departments and Classes…sooooooo….does the financial reports utilize these fields the way it looks…

Can someone tell me the how granular we should break out our accounts with product line, if we want views within those product lines, or does these global fields “Department, Class, and Location” have this ability to break out these transactions in an income statement?

I hope you get my where I am going here. There is no really good PDF’s that I can see on Financial Reports….in Detail…

Any PDF’s or Guides anyone can point me towards would be greatly appreciated.

Thank you…

Earl Stoddard…
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[pdoucet]

RE: The impact of Departments on Financial Reporting

Hi Earl,

When setting up any CoA, including the OneWorlds we’ve implemented, I recommend making the CoA as simple as possible. You can drill down by D, L & C easily. So as long as you are using the same depts and classes across the different subsidiaries, the reports will be meaningful. (you’ll be able to see all “admin” dept results for all subsidiaries in the same report, for example)

Quick question: when breaking down reports by product line, are you basing this on sales? If so, the out-of-the-box sales analysis reports are fairly decent. These reports can also be customized to further granulate the data you are analysing.

[Elliott]

RE: The impact of Departments on Financial Reporting

Originally posted by estoddard@trubiquity.com

Can someone tell me the how granular we should break out our accounts with product line, if we want views within those product lines, or does these global fields “Department, Class, and Location” have this ability to break out these transactions in an income statement?

Here’s my 10 cents…. we’ve been on NS for almost 1 year. Coding the Chart and understanding the impact of Departments was task #1 in implementation. But with only some test data, it was a little sketchy – but our plan worked. Here’s what we did – maybe it will help?

We decided to define Dept. as the CHANNEL the sales were made through. Retail, Wholesale, Web, Manufacturing … and further break out within the Department such as Wholesale : Direct Ship, Wholesale : Stock, Web : Phone, Web:Store if needed. This made sense since any item in our inventory could, and is, sold through every department. So all items are assigned the same g/l# for Inventory, COGS, and Sales. Department slices up where they went when a sale is made.

Department is part of every Sales Order and Invoice (mandatory).

You can use the “Total” selector to spread the Income Statement across to get the Department breakouts. And, we get great Sales by Department reports.

TIP: if you follow this, we “inactivate” the Parent Department when there are children so ONLY the children departments can be picked in the Sales Order. Doesn’t affect reports or P&L.

[Author]

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